Increase in Austin Area Foreclosures

The Austin American Statesmen reported 610 homes up for auction in Travis County (up 79% from April 2008) and 377 in Williamson County (up 103%). In fact Travis’ have exceeded 400 for the past 8 months and Williamson’s have exceeded 200 for that past 12 months. Despite these statistics, homes to be foreclosed on in Travis County represent only 0.25 percent of the county’s market, while Williamson foreclosures represent 0.32 percent.

Our business at Solis has increased significantly over the past month as have the transactions for many of the agents regularly we speak with. Perhaps this is a reflection of the buyer’s market we are in – low interest rates and sellers willing to negotiate.